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AAFM CTEP Exam - Topic 3 Question 78 Discussion

Lokesh purchased a flat on 1-4-1996 for Rs. 10,00,000/-. He sells the same flat on 1-10-2006 for Rs. 25,00,000/-. As a CTEP calculate the Indexed Cost of Acquisition on which capital gain would be calculated. (The CII of year 1995-96 is 281, for year 1996-97 is 305, for year 2005-06 is 497 and for year 2006-07 is 519).
A) Rs.17,01,639
B) Rs.18,46,975
C) Rs.17,68,683
D) Rs.16,29,508

AAFM CTEP Exam - Topic 3 Question 78 Discussion

Actual exam question for AAFM's CTEP exam
Question #: 78
Topic #: 3
[All CTEP Questions]

Lokesh purchased a flat on 1-4-1996 for Rs. 10,00,000/-. He sells the same flat on 1-10-2006 for Rs. 25,00,000/-. As a CTEP calculate the Indexed Cost of Acquisition on which capital gain would be calculated. (The CII of year 1995-96 is 281, for year 1996-97 is 305, for year 2005-06 is 497 and for year 2006-07 is 519).

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Suggested Answer: A

by Joni at May 06, 2026, 02:53 AM

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Haydee
1 month ago
I think the CII for the year of purchase is crucial here, and I vaguely recall that we need to use the CII of the year of sale too.
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Ezekiel
1 month ago
This question seems similar to one we practiced where we had to adjust the purchase price for inflation. I think I need to double-check the CII values.
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Melinda
1 month ago
I remember we discussed how to calculate the Indexed Cost of Acquisition using the CII, but I'm not entirely sure about the exact formula.
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